Stock market futures in the U.S. surged on Monday as the U.S. and China agreed to temporarily de-escalate their trade war.

U.S. stock index futures jumped on Monday after the United States and China said they had reached a deal to reduce tariffs, easing concerns of an all-out trade war that had gripped global markets. Speaking after talks with Chinese officials in Geneva,

Gold futures slid as the U.S. and China agreed to substantially lower tariffs, increasing risk-on sentiment in markets.Continuous gold futures on the New York Mercantile Exchange fell 3.75% to $3,218.